A box office analyst seeks to predict opening weekend box office gross for movies. Toward this​ goal, the analyst plans to use online trailer views as a predictor. For each of the 66 ​movies, the number of online trailer views from the release of the trailer through the Saturday before a movie opens and the opening weekend box office gross​ (in millions of​ dollars) are collected and stored in the accompanying table. Assuming a linear​ relationship, use the​ least-squares method to determine the regression coefficients b0 and b1. Interpret the meaning of the​ slope, b1​, in this problem. Predict the mean opening weekend box office gross for a movie that had 80 million online trailer views. What insights can be obtained about predicting opening weekend box office gross from online trailer​ views?

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question

A box office analyst seeks to predict opening weekend box office gross for movies. Toward this​ goal, the analyst plans to use online trailer views as a predictor. For each of the 66 ​movies, the number of online trailer views from the release of the trailer through the Saturday before a movie opens and the opening weekend box office gross​ (in millions of​ dollars) are collected and stored in the accompanying table.

Assuming a linear​ relationship, use the​ least-squares method to determine the regression coefficients b0 and b1.

Interpret the meaning of the​ slope, b1​, in this problem.

Predict the mean opening weekend box office gross for a movie that had 80 million online trailer views.

What insights can be obtained about predicting opening weekend box office gross from online trailer​ views?

 

Online Trailer
Views (millions)
55.494
8.903
9.686
6.862
82.357
37.678
22.285
7.973
4.900
46.006
6.194
27.633
2.976
59.383
7.277
13.390
12.065
2.376
0.453
5.925
8.634
4.929
28.209
0.290
5.236
11.113
53.562
5.685
28.639
5.371
11.703
60.950
77.717
Opening Weekend
Box Office Gross
($millions)
34.143
4.574
3.649
25.009
104.420
63.539
19.054
8.411
7.333
35.024
22.794
14.148
6.114
149.808
10.302
9.522
1.691
3.427
0.426
3.671
3.329
0.058
97.706
7.258
11.322
16.582
48.403
7.262
16.810
5.647
13.869
36.648
176.486
Online Trailer
Views (millions)
6.306
37.275
2.041
43.366
4.989
6.630
0.942
2.258
11.327
8.966
15.177
13.714
31.231
52.612
16.235
6.884
11.698
2.827
23.075
12.606
0.826
27.536
7.273
3.323
4.267
3.790
7.597
12.912
7.067
5.020
7.739
16.795
7.643
Opening Weekend
Box Office Gross
(Smillions)
5.082
59.703
17.470
85.678
4.690
33.377
3.705
1.513
18.470
12.202
4.357
30.436
53.003
46.607
13.003
3.776
18.223
3.471
13.602
40.011
1.385
20.130
3.404
1.207
10.951
8.344
11.614
13.501
5.106
1.985
22.800
13.689
2.080
Transcribed Image Text:Online Trailer Views (millions) 55.494 8.903 9.686 6.862 82.357 37.678 22.285 7.973 4.900 46.006 6.194 27.633 2.976 59.383 7.277 13.390 12.065 2.376 0.453 5.925 8.634 4.929 28.209 0.290 5.236 11.113 53.562 5.685 28.639 5.371 11.703 60.950 77.717 Opening Weekend Box Office Gross ($millions) 34.143 4.574 3.649 25.009 104.420 63.539 19.054 8.411 7.333 35.024 22.794 14.148 6.114 149.808 10.302 9.522 1.691 3.427 0.426 3.671 3.329 0.058 97.706 7.258 11.322 16.582 48.403 7.262 16.810 5.647 13.869 36.648 176.486 Online Trailer Views (millions) 6.306 37.275 2.041 43.366 4.989 6.630 0.942 2.258 11.327 8.966 15.177 13.714 31.231 52.612 16.235 6.884 11.698 2.827 23.075 12.606 0.826 27.536 7.273 3.323 4.267 3.790 7.597 12.912 7.067 5.020 7.739 16.795 7.643 Opening Weekend Box Office Gross (Smillions) 5.082 59.703 17.470 85.678 4.690 33.377 3.705 1.513 18.470 12.202 4.357 30.436 53.003 46.607 13.003 3.776 18.223 3.471 13.602 40.011 1.385 20.130 3.404 1.207 10.951 8.344 11.614 13.501 5.106 1.985 22.800 13.689 2.080
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 3 images

Blurred answer
Similar questions
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman